Nebraska Small Business Assistance Act

Update

The program pre-application is now closed. Visit the website on March 1 when the application fully opens to apply.

Qualifying for Benefits

To be eligible to receive a grant through the Nebraska Small Business Assistance Act an applicant must meet these requirements per the Nebraska Legislature. The program will be open until March 2025 OR until grant dollars run out.

To qualify for benefits, applicants must meet the following requirements:

  • Be a for-profit business.
  • Be based in Nebraska.
  • Be 19 years of age.
  • The individual applicant must be a United States resident.
  • Applicant cannot have ownership of another business, which the department has defined as 51% or more ownership.

Applicants will need to meet the specific requirements for each benefit.

Before Applying

First, to apply for Program benefits the applicant’s business project must be shovel ready, meaning:

  • They are working with a resource provider.
  • They have a business plan with clear identification of targeted customer markets and revenue projections for three years with detail on projected one-year sales.

First, consider local resources like:

  • Your community’s economic development director.
  • Local bank.
  • A Certified Public Accountant
  • An experienced local businessperson.
  • Your regional Development District.

Second, consider these statewide resources:

These resources can help you review and fine-tune your business game plan including your targeted customer markets and projected revenues.

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Types of Assistance

  • Professional Development
  • Grants

Professional Development

Funding can be received to access professional services like business planning, website development, setting up financials, and a wide range of other professional services. These professional services can be provided by the Program’s Strategic Partners or can provide funding to access other for-profit and nonprofit professional services.

Grants​

Grant assistance if available for qualified startups and existing small businesses. Though monetary assistance, eligible businesses may be eligible for:

  • New small business startups – up to a $25,000 grant.
  • For an existing business – up to $12,500 grant.

Types of Grants

  • New Business
  • Existing Business

New Business

Grant

The new business grant is for new businesses or businesses that are less than two years old as of March 2023.

You may qualify for a new business grant if you meet the following:

  • You are a for-profit business with a full-time equivalent of five or fewer employees.
  • You have an Adjusted Gross Income (AGI) for the previous tax year of $55,000 or less.
  • You have a Current Net Worth (CNW), excluding your primary residence of $200,000 or less.
  • You are willing to work with a recognized service provider.

Existing Business

Grant

You may qualify for an existing business grant if you meet the following:

  • Your business is not five years old (as of March 2023)
  • Your business’s gross revenue has grown by no more than 25% in the recent calendar year.
  • You have a Current Net Worth (CNW), excluding your primary residence of $200,000 or less.
  • No more than 5 Full-Time Employees – not including the owner.

Keep in mind, meeting these requirements do not guarantee a grant will be awarded, but should be used as a basic guideline to determine if an applicant is eligible to receive a grant.

Resources

If you are a new business, we encourage you to ensure you are ready to grow your Nebraska business. View a comprehensive list compiled by the Nebraska Department of Economic Development:

Contact Us

Whether you’re just starting out or are currently operating your business, GROW Nebraska is ready to help. We’re here to listen and learn about your needs, so that we can provide resources tailored to your specific situation. 

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